Top Glove Corporation Bhd. (KLSE:TOPGLOV) entered into a term sheet to acquire Eastern Press Sdn Bhd from Y.S. Hoong Sdn Bhd and others for MYR 47.3 million on October 13, 2017. The consideration shall be satisfied in cash. Prior to the transaction, Y.S. Hoong Sdn Bhd holds 4.87 million shares of Eastern Press Sdn Bhd. Y.S. Hoong Sdn Bhd shall provide Top Glove Corporation Bhd. with an exclusivity period of two months from the date of the term sheet. Top Glove Corporation Bhd. (KLSE:TOPGLOV) entered into a sale and purchase agreement to acquire Eastern Press Sdn Bhd from Y.S. Hoong Sdn Bhd and others for MYR 46.3 million on November 3, 2017. The transaction will be funded through bank borrowings and internally generated funds. The transaction is not expected to have any material effect on the net assets and gearing of Top Glove Corporation Bhd. The transaction does not require any the approvals of shareholders of Top Glove Corporation Bhd. and any relevant authorities and is not conditional upon any other proposals undertaken by the Top Glove Corporation Bhd. The transaction is expected to be completed in the first quarter of 2018. Top Glove Corporation Bhd. (KLSE:TOPGLOV) completed the acquisition of Eastern Press Sdn Bhd from Y.S. Hoong Sdn Bhd and others on January 5, 2018.